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India’s Booming Tech Industry Set to Revive Economic Downturn

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Alongside the public health effects of coronavirus, the pandemic has also unleashed almost unprecedented economic collapse. Government restrictions on movement and trade have plunged most economies around the world into recession.

The nation that perhaps most personifies the market downfall due to COVID policies is India. The country is on the verge of overtaking the UK as the world’s fifth-largest economy. For decades, India has been a major center for regional and international business, an important destination for migrant workers, and a booming commercial hub

The heavy-handed response by New Delhi to contain the virus dealt a devastating blow to the nation’s economic progress. As sweeping closures on the country’s businesses were announced, India’s economy largely ceased overnight. The economic downturn was led by the service sector: face-to-face trade industries, hotels, tourism, and other forms of hospitality, and transport segments witnessed the sharpest fall. Other areas as well such as finance, real estate, professional services, public administration, and even defense were also in negative territory by the end of the summer.

The country’s own state banks observed the single biggest first-quarter contraction ever recorded. By May, analysts were reporting never before seen losses in state-level markets, with total drops amounting to thirteen percent of gross domestic product. India-based market analysts have concluded: the COVID collapse is India’s worst recession to date.

Hopes for a rebound were also dashed after lockdowns were lifted. Much as India continued to be one of the worst-hit major economies during the third quarter period. In the September quarter, India showed a 7.5% contraction year-on-year, pushing the country yet even deeper into recession. Among the major economies of the world, only the UK and Spain shrunk sharper than India.

Most of the country’s industries are continuing to shrink, both government officials and international stakeholders are all asking the same question: what are the strong points in the economy that could propel a rebound? Some have pointed to the manufacturing industry as indeed the sector has recently reported a significant shift upward. However, analysts are skeptical of the stability and long term strength of industrial production. “As the expectation was that a combination of the pent up and festive demand will play a big role in pushing the demand, (the) manufacturing sector geared up itself by building up the inventory through the months of August and September,” explained Sunil Kumar Sinha, principal economist at India Ratings and Research. Yet this manufacturing growth needs to be taken with a pinch of salt because it is on a low base” warned Sinha, calling the manufacturing growth on the whole “uneven” at best. 

One Indian sector that is showing substantial promise is one that has been growing by leaps and bounds for years, namely the country’s tech industry.

The quiet, steady, but surely increasing impact of Indian hi-tech has been a discussion among global market analysts for quite a while now. The growth of India’s influence in the sector has become two-fold.

For one, India has become an important resource pool and base of operations for India. A recent report showed over twenty-five percent of multinational corporations now base their engineering, research, and development, or shared services centers in India. According to the report published by India based research firms, many of these centers have become the second headquarters for these companies. The briefs also listed twenty-five additional global conglomerates planning to open facilities in India next year.

The second factor in India’s hi-tech prowess is the country’s startup scene. Today, India has become a technology hotspot and hi-tech epicenter, as Indian firms are expanding to Southeast Asia through setting up new facilities, strategic investment, mergers and acquisitions, and joint-venture partnerships.

The technology industry has continued to flourish even as the rest of the country is struggling to get back on its feet. Indian companies in various tech fields have secured major accomplishments despite the country’s overall economic downturn. In September for instance, Home interiors and renovation platform, Livspace, announced they had raised $90 million in their series D funding. The company’s funding is now led by prestigious investment firms around the world the likes of the Swiss Kharis Capital and South-East Asia focused Venturi Partners. Another astounding example of Indian hi-tech success during COVID-19 has been Pine Labs, a digital payments platform. Pine Labs recently announced its most recent valuation of $2 billion following its last funding round. These other stories of startup success are far from outliers. Today, there are several Indian IT firms that are still global market players.        

The stability and continued growth of Indian hi-tech are the reasons why both investors and policymakers should be focused on the industry. To bring India’s economy out of its slump, strong sectors are required to create jobs, secure capital, and attract international investment. India’s leaders are beginning to shift focus from virus containment to economic rebound. In this effort it will be vital to remember: a win for Indian hi-tech will be a win for India as a whole. 

Luis Schmidt is an investment advisor and the co-founder of L&R Investment Consultants, a Stuttgart-based advisory and economic analysis firm.

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To Protect Democracies, Digital Resiliency Efforts Are Needed Now

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Across the globe, more than three billion people have no internet access. But with the increased availability of smart phones and other projects such as SpaceX’s Starlink satellite internet system, that soon will change. To be sure, this unprecedented level of connectivity has the power to be a boon for democratic advancement and economic development. However, without pre-emptive action, it will likely result in the ills we’ve seen with rapid connectivity elsewhere that threaten democratic norms, institutions, and governance. Authoritarians have an answer to these problems: more control. Democracies need an answer too: building pre-emptive digital resilience and preparedness.

Democracies have been consistently caught off guard by rapid digitization. The disruption of information ecosystems has amplified political and economic inequity, leading to various information disorders such as disinformation, declining trust in journalism, increasing social toxicity and dissatisfaction with government, etc. In Myanmar, for example, internet connectivity empowered individuals, but rampant hate speech also facilitated the military’s campaign against the Rohingya. In the Philippines and Brazil, authoritarian populists have used social media to exploit their publics, foment hate, and win elections.

In attempting to manage the consequences of rapid digitization, governments are increasingly eliciting from the authoritarian playbook – implementing haphazard social media and cyber laws, surveillance, and censorship to the detriment of political freedoms. Freedom House’s Freedom on the Net 2020 report outlined a “dismal year for internet freedom” and showed countries like Brazil, Nigeria, Turkey, and Kyrgyzstan following China’s model of blocking internet services and conducting pervasive monitoring on their people’s virtual activities.

Democracies have not provided clear answers to rapid digitization, despite the fact that successes in countries like Finland and Taiwan demonstrate that the internet can – if combined with a thoughtful, pre-emptive, whole of society approach – actively strengthen social cohesion and democratic governance. The introduction of digital infrastructure must be accompanied by digital literacy campaigns. Governments need to be trained in cybersecurity, online communication, and on key policy issues such as open data and privacy. Civil society, especially those working with local communities and marginalized populations, need to be involved early in national digital coordination plans in order to reach more people and to ensure digital inclusion is a core consideration of these plans. These plans should include mobilization of digital safety campaigns, education initiatives, and digital skills trainings. 

To be sure, taking a pro-active, coordinated approach will require resources and time. Embracing the transparency that comes with digitization and the sheer amount of data available might also seem daunting at the beginning. However, countries and communities soon to come online are in advantageous positions to learn from other countries’ mistakes and better understand the opportunities, risks, and threats that digitization brings. There is no reason for them to experience the same negative effects of rapid digitization that we’ve been observing for years. It is better to invest upfront than be left dealing with the democratic backsliding gripping Myanmar, the Philippines, Ethiopia, and many other countries today.

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Internet of Behavior (IoB) and its Influence on Human Behavioral Psychology

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Internet of behavior is a connection between technology and human psychology which gives it the power to generate patterns and influence human behavior.

It is still in initial phase, but was able to grab a lot of attention from technology experts with its mention in ”Gartner’s Top Strategic Technology Trends for 2021”. Gartner predicted that “By the end of 2025, over half of the world’s population will be subject to at least one IoB program, whether it be commercial or governmental”

Source: BMC blog on “What Is the Internet of Behaviors? IoB Explained”

Gartner acknowledges IoB as, behavioral science which can be considered under four key aspects: augmentations, decisions, emotions and companionship

From a human psychology perspective, IoB not only understands the data properly but also applies its understanding to innovate, create and promote new products/services

Currently most of the companies understand buying behavior from the information provided by consumers via interaction between them and application linked to the company. Information collected from interaction via smart devices such as smart phones and its interconnection with other smart devices such as cameras and voice assistance has the power to understand consumer’s likes/dislikes, spending, and so on.

It is aiding organizations to optimize their data from sources such as social media, geolocation, facial recognition, and government agencies citizen data. This data is eventually added and utilized to influence consumer buying behavior.

IoB is using data processing to another level, by connecting collected data from human behavior to analytics and behavioral science. This behavioral data will play a fundamental role in planning and developing strategies for organizations particularly in sales and marketing.

It has the ability to analyse data collected from consumers (such as consumers food choices, how they shop, their preferred travel destination, people with whom and how they interact) and use it to advertise products more effectively and improvise a product’s or service’s overall user experience, thus fulfilling their ultimate goal of selling product. With such capabilities, it aims to generate a substantial enhancement in the development of the sales industry. 

For Instance, a health app that can track sleeping patterns, heart rate or blood sugar levels, can alert users before adverse health situations and suggest them with behavior changes for the positive result. Such information could prove significantly important to companies by providing them with deeper insight into how they should be channelizing their marketing efforts.  

As per Gartner, “The same wearables that health insurance companies use to track physical activities to reduce premiums could also be used to monitor grocery purchases; too many unhealthy items could increase premiums.”

GBKSOFT, a software company has helped golfers to improve their playing skills by correcting their existing ball striking technique and learning new techniques with its app and wearable device. The golfers can connect their handheld device and connect it with their mobile phone, every time the golfer hits the ball the app records and analyses its impact. Thus golfer can not only improvise by analyzing their mistake but also track for any trajectory or stroke force.

Tech giants such as Facebook, Google, and Amazon are continuously tracking and working on algorithms to configure and anticipate consumer desires and behaviors

Covid has brought a wider acceptance of IoB for human behavioral surveillance. IoB can prove to be an extremely effective method to avoid spread of virus. For instance, computer vision or facial recognition can be used to determine if employees are complying with mask protocols or not. While, electronic devices such as RFID tags and sensors on employee or in the environment can be used to check if they are washing or sanitizing their hands regularly or not. Speakers can be used to warn people violating such protocols.

Test and Trace app on smart devices can be used by government agencies to monitor and curtail people’s location and activities to ensure their chances of contacting virus, while effectively enhancing overall public welfare.

While IoB has a great potential to improve our lives it has some negative aspects as well, cyber security being the prime concern. It can give access to cyber criminals with not just behavioral data such as consumer buying patterns or their likes/dislikes but also give access to their banking code, by which they can create advance scams, and take phishing to another level.

Moreover, data generated from social media platform such as Facebook and Instagram is changing the dynamics of value chain, and companies are using this opportunity to modify human behaviors. This goes well with the saying “If you are not paying for it, you are no longer the customer, you are the product being sold”

Some people might find surveillance of behavior as an Invasion of their privacy. “China’s Social Credit System” a Chinese government based surveillance programme is one such example, which includes all characteristics of judging citizens’ behaviour and trustworthiness. With this system the government is supporting good human behaviour and discouraging bad behavior. This is not going well with people who value their civil rights.

Moreover, laws regarding IoT vary widely, and considering IoB has much more sensitive data, both government and private organizations need to establish robust privacy laws to bring legal consistency.

As per Gartner, “Much of the scope and execution of an IoB will depend on local privacy laws, which may affect how data can be used and in what way”.

Regardless of the apprehensions expressed above, IoB has the ability to make our lives effortless, be it improving business, encouraging us to live a healthy life or ensure our safety during pandemic situations. Any government of private organization who implement IoB needs to make sure of strong cyber security and data protection laws.

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160 million degrees Celsius reached in China: The artificial Sun

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Experimental Advanced Superconducting Tokamak (EAST) /VCG Photo

Another important step has been taken by Chinese researchers in developing the ultimate energy source for nuclear fusion.

On May 28, the Experimental Advanced Superconducting Tokamak (EAST), known as the “artificial sun”, operating at the Institute of Materials Science in Hefei (Chinese Academy of Sciences), achieved the new limit of the planet reaching the highest temperature ever recorded.

It reached one hundred and twenty million degrees Celsius, for one minute and 51 seconds. EAST also managed to maintain a temperature of 160 million degrees Celsius for 20 seconds. This is a higher peak than that of the sun’s core, which can reach a limit of 15 million degrees Celsius.

A tokamak (Russian: toroidal’naja kamera s magnitnymi katushkami: Russian acronym for “toroidal chamber with magnetic coils”) is a device which uses a powerful magnetic field to confine plasma in the shape of a torus. Torus is a ring-shaped device in which a hot, rarefied gas (usually hydrogen, in the plasma state) is kept cohesive and away from inner walls by a magnetic field created by electromagnets outside the chamber. It was originally conceptualized and invented in the 1950s by Soviet professor Sadyk Azimovič Azimov (1914-88) and others at the Kurčatov Institute in Moscow.

China’s experimental nuclear fusion device was created in 1998 and was called HT-7U at the time. With a view to making it easier to pronounce and remember, as well as having a precise scientific meaning for national and foreign experts, HT-7U was officially renamed EAST in October 2003.

In 2006, the EAST project was completed in a definitive and higher quality manner. In September-October 2006 and in January-February 2007, the EAST device performed two discharge debugs and successfully achieved stable, repetitive and controllable high-temperature plasmas with various magnetic configurations.

EAST has a nuclear fusion reaction mechanism similar to that of the sun. Its operating principle is to add a small amount of the hydrogen isotope deuterium or tritium to the device’s vacuum chamber and generate plasma through a transformer-like principle, then increase its density and temperature to cause a fusion reaction – a process that generates enormous energy.

Over the ten years since its construction, EAST has continually made progress in the search for controllable nuclear fusion.

In 2009, the first round of EAST tests was successful, thus putting China at the forefront of nuclear fusion research. In February 2016, EAST’s physics tests made another major breakthrough, achieving the longest temperature duration reaching 50 million degrees. In 2018, EAST reached a number of important milestones including 100 million degrees.

This means that mankind has made another major advance in its efforts to turn nuclear fusion into new, clean and inexhaustible energy.

Energy is the fundamental driving force behind the functioning of every aspect of life. The energy used today has many shortcomings and cannot fully meet human needs, while nuclear fusion energy is considered the ideal energy par excellence.

According to calculations, the deuterium contained in one litre of seawater can produce the equivalent of the energy of 300 litres of petrol, released after the nuclear fusion reaction, besides the fact that the product is not harmful. Although it is not a “perpetual motion machine”, nuclear fusion can provide energy for a long time. Not only can Marvel’s hero Iron Man rely on the small reactor in his chest, but also raw materials can be obtained from seawater at an extremely low cost.

The first condition for nuclear fusion is to keep fuel in the fourth state of matter, after solid, liquid and gas – i.e. the plasma state.

When the plasma temperature reaches tens of millions of degrees Celsius or even hundreds of millions of degrees, the atomic nucleus can overcome the repulsive force to carry out the polymerisation reaction. Coupled with sufficient density and a sufficiently long thermal energy confinement time, the nuclear fusion reaction is able to continue steadily.

Nevertheless, it is particularly difficult to achieve both the temperature of hundreds of millions of degrees Celsius and the long-term confinement control of plasma stability.

While recognising that nuclear fusion is the ultimate goal for solving the problem of mankind’s future energy, there is both cooperation and competition in international research.

A sign of cooperation is that on July 28, 2020, a ceremony was held in France to launch the major project to install the International Thermonuclear Experimental Reactor (ITER). The ITER project is jointly implemented by China, the Republic of Korea (South Korea), Japan, India, Russia, the European Union and the United States.

On December 28, 2020, Seoul’s Korea Superconducting Tokamak Advanced Research (KSTAR) set a new world limit at the  time and its ionomer maintained a temperature of over 100 million degrees for 20 seconds.

In early 2018, the Plasma Science and Fusion Center at the Massachusetts Institute of Technology had begun designing and building a Soonest/Smallest Private-Funded Affordable Robust Compact fusion reactor more advanced than ITER, with a volume tens of times smaller and significantly reduced in cost. But it remains to be seen whether this goal can be achieved.

Chinese researchers have now achieved significant progress in this field and taken another important step towards obtaining energy from nuclear fusion.

In the future, if the production capacity and energy supply of the “artificial sun” is achieved, it will be another technological revolution that can promote social progress even more than the industrial revolution which, in fact, meant the beginning of pollution for the planet and exploitation by capital.

Although there is still a long way to go before the construction of the naval port on Jupiter described by the Chinese writer, Liu Cixin, in his novel The Three-Body Problem (San Ti), mankind is indeed advancing on the road to controllable nuclear fusion.

Nuclear fusion energy has exceptional advantages in producing rich resources, as well as no carbon emissions, so it is clean and safe. It is one of the ideal energy sources for mankind in the future, and can contribute significantly to achieve the goal of eliminating said carbon.

The two greatest difficulties in generating energy from nuclear fusion lie in regularly reaching hundreds of millions of degrees, and in stable ignition and control of long-term confinement.

For the time being, multiple extreme conditions are highly integrated and organically combined at the same time, but this is very difficult and challenging.

In hitting the record, it is the first time that the EAST device has adopted key technologies such as the first water-cooled all-metal active wall, as well as the high-performance tungsten deflector and high-power wave heating states.

At present, there are over 200 core technologies and nearly 2,000 patents on EAST, bringing together cutting-edge technologies such as ‘ultra-high temperature’, ‘ultra-low temperature’, ‘ultra-high vacuum’, ‘ultra-strong magnetic field’ and ‘ultra-high current’.

The total power is 34 megawatts, which is equivalent to about 68,000 domestic microwave ovens heating up together. For 100 million degrees Celsius and -269 °C to coexist, it is necessary to use “ultra-high vacuum” with an intensity of about one hundredth of a billionth of the surface atmospheric pressure suitable for insulation. With a view to supporting this complex extreme system, almost a million parts and components work together on EAST.

The new EAST record further demonstrates the feasibility of nuclear fusion energy and also lays the physical and engineering foundations for marketing.

Energy on earth, stored in the form of fossil fuels, wind, water or animals and plants, originally comes from the sun. For example, fossil fuels evolved from animals and plants millions of years ago, and their energy ultimately comes from solar energy stored by the photosynthesis of plants at the base of the food chain. Therefore, regardless of the type of energy used by humans, they ultimately use the sun energy that comes from nuclear fusion.

If mankind could master the method for releasing the nuclear fusion energy in an orderly manner, it would be equivalent to controlling the sun energy source. Therefore, this is the reason why the controllable nuclear fusion reactor is called the “artificial sun”.

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